Greek fashion company Folli Follie has reached an agreement with Authentic Brands Group to assume the exclusive wholesale and retail distribution rights for the Juicy Couture brand in Continental Europe, the UK, Ireland and Cyprus.

Folli Follie Group, which designs, produces and markets its own fashion brands globally, and is present in more than 28 countries, said it will ensure the Juicy Couture brand will continue to have a retail presence in Europe.

CEO George Koutsolioutsos said: "Our broader strategy to internationalise our brand portfolio continues through the agreement with Authentic Brands Group, further strengthening our presence in the fashion sector."

Although the agreement focuses on European countries, Koutsolioutsos added that it may be expanded in the future to reflect the company's international reach.

The move comes after apparel giant Fifth & Pacific Companies agreed last October to sell the Juicy Couture brand to Authentic Brands Group for US$195m.